On Wednesday 08 August 2007 15:20, Daniel Kristjansson wrote:
>> Yup, we had to name some non-profits to get any remnants upon
> dissolution. I think it was the EFF and the FSF, but don't quote
> me on that, I would want to check our records. And we are not a
> 501(c)(3), there is a many month application process for this.
> Though we will almost certainly apply for some type of favorable
> IRS status within the 18 month retroactive period. As Chris noted
> the board members are unpaid and have spent considerable time and
> more money than Chris mentioned on various aspects of getting this
> operation going.
As I already support those organizations I heartily agree with your choice,
but of course hope they never get a penny from you due to dissolution.
As I'm sure you know you have to get an EID (or whatever they call it), then,
if you are trying for 501(c)(3) status, there are some things you can do
based on the application itself, not the final determination (at least
according to my CPA sister).
I believe you also have to have some sort of "educational" functions, perhaps
even the mailings lists would qualify, as they certainly educate us all.
If the listings are a "benefit", and you are going for 501(c)(3) status, you
will have to put a cash value on the listings, as only the portion of a
donation above that value will be deductible, unless a donor elects not to
receive that "benefit".
Much thanks for all the (presumably) hard work, most of us appreciate it
greatly.
--
BEWW